Not liquidity. Solvency. | 83 comments (83 topical, editorial, 0 hidden)

Re: Not liquidity. Solvency. (4.00 / 2)

GM hasn't made money making/selling automobiles for donkey's years. They have been making money making loans to people to buy their automobiles through GMAC -- General Motors Acceptance Corporation.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Sun Dec 16th, 2007 at 07:27:54 PM EST
[ Parent ]

Re: Not liquidity. Solvency. (none / 1)

As I understood it, the GM group as a whole has been losing money.

i.e. GMAC profits are less than GM Auto losses.

by Metatone (metatone [a|t] gmail (dot) com) on Sun Dec 16th, 2007 at 07:50:32 PM EST
[ Parent ]

Re: Not liquidity. Solvency. (4.00 / 2)

That is what they have been reporting. The truth? I don't know. I haven't looked at their financial statements in 20 years.

I do know they make crappy cars no one wants to buy, even with cheap loans as an inducement.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Sun Dec 16th, 2007 at 08:16:34 PM EST
[ Parent ]

Re: Not liquidity. Solvency. (4.00 / 3)

I do know they make crappy cars no one wants to buy, even with cheap loans as an inducement.

Amen. Ditto Ford and Chrysler.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Mon Dec 17th, 2007 at 06:38:28 AM EST
[ Parent ]

Re: Not liquidity. Solvency. (none / 0)

That's my understanding as well. I was under the impression that GMAC was being sold off though.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Mon Dec 17th, 2007 at 06:36:41 AM EST
[ Parent ]

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